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Nov 27, 2012
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or raise their tax rates? today president obama meets with small business leaders continuing his push for higher taxes for the wealthy. a new white house economic report warns if tax breaks go away, the average middle-class family will owe uncle sam another $2,200 next year. >> it seems to be the thing that we can all agree on, that middle-class families should see an extension of these tax cuts. >> reporter: some prominent republicans who have been dead set against raising taxes on anyone now hint they may consider other options. >> we've been open to revenue by closing loopholes as long as it's tied to spending cuts and pro-growth tax reform that brudens the base and lowers rates. >> you don't raise rates, you just cap the amount of itemized deductions that taxpayers -- it hits the wealthy. >> reporter: the bottom line, republicans say americans borrowing too much money trying to keep medicare and social security afloat. lawmakers with the fix-the-debt coalition meet here tomorrow. >> there's going to come a
or raise their tax rates? today president obama meets with small business leaders continuing his push for higher taxes for the wealthy. a new white house economic report warns if tax breaks go away, the average middle-class family will owe uncle sam another $2,200 next year. >> it seems to be the thing that we can all agree on, that middle-class families should see an extension of these tax cuts. >> reporter: some prominent republicans who have been dead set against raising taxes on...
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Nov 29, 2012
11/12
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no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. with his wife, danielle, almost every weekend. derrell hasn't been able to visit his mom back east in a long time. [ shirley ] things are sometimes a little tight around the house. i wasn't able to go to the wedding. [ emily jo ] since derrell couldn't get home, we decided to bring home to him and then just gave him a little bit of help finding his way. ♪ [ laughs ] [ applause ] i love you. i love you, too. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >>> if you're a family in debt, you don't keep spending. >> it shouldn
no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. with his wife, danielle, almost every weekend. derrell hasn't been able to visit his mom...
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Nov 27, 2012
11/12
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they'll also be gone with the middle-class tax cuts. two years ago the republicans tried to hold the president hostage and said listen, if you don't give us the bush high-end tax cuts we're not giving you the middle-class tax cuts. the president ju jitsued that into a second stimulus. the president this time around has a little advantage. he can let all tax cuts expire on december 31st which is what democrats are advocating, first week in januariry when the congress comes back in, he can say, guys, we have 98% of the public i want to give tax cuts to right now, we can keep arguing about the top 2 but do this right now for the 98%. how come you're not with me on this? that's i think is a card for him to play heavy and gives him an advantage over the spending cuts and debt ceiling issues that will come up. >> justin, let's talk a little bit about the effects of a tax cut for high-income earners on the economy. there is this supposition, in fact i would call it bedrock republican philosophy economically speaking if you cut rates for top ea
they'll also be gone with the middle-class tax cuts. two years ago the republicans tried to hold the president hostage and said listen, if you don't give us the bush high-end tax cuts we're not giving you the middle-class tax cuts. the president ju jitsued that into a second stimulus. the president this time around has a little advantage. he can let all tax cuts expire on december 31st which is what democrats are advocating, first week in januariry when the congress comes back in, he can say,...
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Nov 29, 2012
11/12
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he's not a tax guy. he's never really worked in this sphere. >> geithner is leading these talks for two reasons. he and the president are very close. they simply click. secondly, boehner likes him. that's why geithner is the front man here. that sometimes matter more than anything else. on wednesday, the president brought back a campaign atmosphere. he surrounded himself with what he called average middle class families. it was all about ramping up political pressure on the republicans. >> if congress does nothing, every family in america will see their taxes automatically go up at the beginning of next year. >> the president had a busy fiscal cliff day, also met privately with the ceo ofs of home depot, coca-cola and yahoo!. not to be out done on this pr front, house republicans made it public, hosting a group of nervous business leaders. they've signed on to a campaign called fix the debt. they want big spending cuts to supplement the coming tax hikes. >> i'm hopeful but i wouldn't put me anywhere near
he's not a tax guy. he's never really worked in this sphere. >> geithner is leading these talks for two reasons. he and the president are very close. they simply click. secondly, boehner likes him. that's why geithner is the front man here. that sometimes matter more than anything else. on wednesday, the president brought back a campaign atmosphere. he surrounded himself with what he called average middle class families. it was all about ramping up political pressure on the republicans....
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Nov 22, 2012
11/12
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tax credit for low-income families, the payroll tax cut, that's just a few of them out there. what would the tax hikes mean for the average american? i mean, the economic impact, would that be felt immediately? >> obviously there's going to be a big impact here. when you total all the cuts set to expire, the tax hike is something like $400 million. they will not hit the same people but it is a hefty number. this is certainly something the average american would feel a whole lot at home. and to your point earlier, i think it would be interesting as there doesn't seem like there's a whole lot of movement. it is not clear how to get past the log-jam we have now where it doesn't seem anyone is willing to put anything on the table that will actually lead to a conclusion in this. there's a lot of back and forth but no real movement going on at the moment. >> bob, do you think it will be what we have seen so many times on capitol hill, which is pushing this to the 11th hour-plus and they get something done because of pressure? do you think that will happen? >> sure. i think that's be
tax credit for low-income families, the payroll tax cut, that's just a few of them out there. what would the tax hikes mean for the average american? i mean, the economic impact, would that be felt immediately? >> obviously there's going to be a big impact here. when you total all the cuts set to expire, the tax hike is something like $400 million. they will not hit the same people but it is a hefty number. this is certainly something the average american would feel a whole lot at home....
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Nov 25, 2012
11/12
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certainly it would be good to have higher tax rates for wealthier people. it might not be a long-term catastrophe. we get some reform out of it. let's remember, the deals that we're discussing to avert the cliff involve balancing a budget deficit that was a lot of fun for people on the take, the military defense contractors who got paid off the books. >> right. >> taking health care away from poor people. >> the impact that we're seeing now may not be -- the consumers may not see it through them but we're seeing it through the banks and business who is are right now still being very conservative about who they're lending to and how they're doing business because they are spooked by these talks. much more so than consumers. >> why don't you see the business community, particularly in advance of the holiday shopping season, say, you know what, you guys are going to have to signal that you're going to resolve this because these are the weeks in which we make all our money for the year. we need consumers happy. we need them shopping. >> because those businesses
certainly it would be good to have higher tax rates for wealthier people. it might not be a long-term catastrophe. we get some reform out of it. let's remember, the deals that we're discussing to avert the cliff involve balancing a budget deficit that was a lot of fun for people on the take, the military defense contractors who got paid off the books. >> right. >> taking health care away from poor people. >> the impact that we're seeing now may not be -- the consumers may not...
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Nov 25, 2012
11/12
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have enjoyed immense wealth more tax advantages. i think the public also needs to know that what's happening in the congo and goem a is a humanitarian crisis, almost at the epic point and one of the most desperate places in the world and these people who are in camps have been dispossessed and on the road and great death and disease there. we need to contribute to the red cross and to others to help the people there. in the eastern congo and that the grizzlies are the best team in basketball. they're a grit and grind and america's team. >> you really touched all the bases there. katrina. >> people need to know that we have come one step closer to ending the ineffective irrational and inhumane drug wars with the initiatives that passed in washington and colorado on november 6th. this is an opening for the president to instruct the department of justice to reprioritize the marijuana, prosecution of marijuana cases. but also to use this as a way to allow washington, colorado to implement these cases because the war on drugs disproporti
have enjoyed immense wealth more tax advantages. i think the public also needs to know that what's happening in the congo and goem a is a humanitarian crisis, almost at the epic point and one of the most desperate places in the world and these people who are in camps have been dispossessed and on the road and great death and disease there. we need to contribute to the red cross and to others to help the people there. in the eastern congo and that the grizzlies are the best team in basketball....